The property of Lance's Garage is worth $90,000. Lance has a fire insurance policy of $40,000 that contains an 80 percent coinsurance clause. The insurance company pays on a fire that causes $60,000 damage: 1. $27,777.78 2. $27,777.87 3. $33,333.33 4. $33,334,00 5. None of these
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Bachelors Degree and CPA with Accounting work experience